Vincentric has set the total cost of ownership for eight 2019-model-year midsize pickups, including the Ford Ranger, which joined a competitive segment earlier this year when it went on sale.
The Ranger and other midsize pickups are providing financial appeal with their lower acquisition cost, more favorable fuel consumption, and maintenance costs that won't break fleet budgets.
"Manufacturers are moving toward creating trucks, SUVs, and crossovers that are financially alluring to buyers whether it’s in the retail or fleet market," said David Wurster, Vincentric's president. "Ford kept that in mind when creating the Ranger."
Midsize pickups provide an ideal choice for pest control, landscaping, and other commercial and government fleets. Vincentric analyzed fleet incentives, cost per mile, total actual depreciation, total fuel costs over 60,000 miles, EPA-rated miles per gallon, total maintenance, and acquisition cost over a three-year period.
In addition to the Ranger, Vincentric also analyzed the Chevrolet Colorado, GMC Canyon, Nissan Frontier, Toyota Tacoma, and Honda Ridgeline. Diesel-powered models of the Colorado and Canyon were rated separately, and fared poorly against their gasoline counterparts for the most part.
Acquisition cost for non-diesel pickups ranges from $20,663 for the Frontier to $29,891 for the Ridgeline, which is the only model without a fleet incentive. Ford announced a $750 incentive for two Ranger trim grades.
Cost per mile for the midsize pickups came in at 30 cents for the Tacoma, 32 cents for the Canyon, 34 cents for the Ranger, 35 cents for the Colorado, 37 cents for the Frontier, 40 cents for the Ridgeline, 41 cents for the diesel Canyon, and 42 cents for the diesel Colorado.
The Tacoma had the lowest maintenance costs at $2,875 with the Canyon a close second at $2,956.
The Tacoma also had the lowest depreciation over three years at $6,940. The Canyon was $8,981.
"Fleet buyers that need the towing and hauling capacity of a truck but want lower ownership costs can find that in the smaller-sized Ranger and other midsize trucks," Wurster said. "When comparing the Ranger with other trucks in the midsize category, it provides the lowest fuel costs as well as low insurance and maintenance costs."